Factors that impact the innovation capability in MSMEs: case of Colombia's Atlántico Department

Escobar-Castillo, Adalberto; Velandia-Pacheco, Gabriel; Navarro-Manotas, Evaristo; Otalora-Beltrán, Jorge; García-Tamayo, Diana; Archibold-Barrios, Wendell; Ramírez-Juvinao, Luisa

doi:10.1016/j.procs.2023.09.070

Cited by 2 publications

(2 citation statements)

References 13 publications

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“…The fifth study conducted by Castilo et al, [41] discusses factors that impact innovation capability in MSMEs: the case of Colombia's Atlantico Department. The paper aims to analyze the variables that affect innovation capability in industrial MSMEs in Colombia's Atlántico Department, finding that organizational learning, intellectual capital, and knowledge management have a direct and statistically significant impact on innovation capability.…”

Section: Resultsmentioning

confidence: 99%

Strategies to Increase the Competitiveness of Micro, Small and Medium Enterprises (MSMEs): A Narrative Literature Review

Hurdawaty,

Tukiran

2024

SAJSSE

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Micro, small, and medium enterprises (MSMEs) are one of the important pillars of the country's economy. MSMEs have an important role in creating jobs, increasing economic growth, and improving community welfare. The competitiveness of MSMEs is vital for their success and for driving economic growth. To increase the competitiveness of MSMEs, the right strategy is needed. This strategy must be adapted to the characteristics of MSMEs, such as the business sector, target market, and competitive conditions. These research questions are: 1) What are the strategies for increasing the competitiveness of MSMEs?, and 2) What supporting factors can increase the competitiveness of MSMEs? The research method used is a narrative literature review of five references taken from the ScienceDirect database from 2020 to 2023 that discuss strategies for increasing the competitiveness of MSMEs. These five papers have a strong connection because they all discuss the relationship between innovation and the performance of micro, small, and medium enterprises (MSMEs). The results of the narrative literature review show that thera are several strategies can be used to increase the competitiveness of MSMEs namely digitalization, product and service innovation, business process innovation, and marketing and sales innovation. Beyond these strategies, the studies emphasize the importance of several supporting factors, such as government support, access to financial resources, networking, and collaboration opportunities. The implication of this research is to contribute ideas to the government and owners of MSMEs in the form of a model increasing the competitiveness of MSMEs in the global market.

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Section: Resultsmentioning

confidence: 99%

Strategies to Increase the Competitiveness of Micro, Small and Medium Enterprises (MSMEs): A Narrative Literature Review

Hurdawaty,

Tukiran

2024

SAJSSE

View full text Add to dashboard Cite

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“…By adopting an innovative entrepreneurial approach, MSMEs can increase their competitiveness in the e-commerce market.Entrepreneurial orientation also involves the level of readiness to take risks in developing a business. MSMEs that have a high entrepreneurial orientation tend to be bolder in trying new things in e-commerce [30]. They take risks to invest in technology, upgrade digital capabilities and adopt innovative online marketing strategies.…”

Section: The Effect Of Entrepreneurial Orientation On Msme Sustainabi...mentioning

confidence: 99%

The Role of Financial Literacy and Entrepreneurial Orientation on MSME Sustainability: The Mediating Effect of E-Commerce

Kristiawati,

Giriati,

Wendy

et al. 2024

ajarcde

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MSMEs play an important role, but there are still many problems to improve their performance. The effect of financial literacy and entrepreneurial orientation on general performance is the purpose of this study. This research was conducted at MSMEs in Pontianak City and Singkawang City. The research method used is descriptive quantitative. Quantitative research is an attempt by a researcher to gain knowledge by providing data in the form of numbers which will then be used to analyze information. The data used in this research is primary data. The soil test results show that the significance value of the two-tailed test is 0.00 <0.05, so e-commerce can mediate the effect of financial literacy on MSME performance. The Sobel test results also show that the significance value of the two-tailed test is 0.00 <0.05, so e-commerce can mediate the effect of Entrepreneurial Orientation on MSME performance. Understanding financial literacy and the use of e-commerce will help MSMEs manage their finances and leverage business opportunities more effectively, as well as make it easier to access financial resources needed for business sustainability.

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Factors that impact the innovation capability in MSMEs: case of Colombia's Atlántico Department

Cited by 2 publications

References 13 publications

Strategies to Increase the Competitiveness of Micro, Small and Medium Enterprises (MSMEs): A Narrative Literature Review

Strategies to Increase the Competitiveness of Micro, Small and Medium Enterprises (MSMEs): A Narrative Literature Review

The Role of Financial Literacy and Entrepreneurial Orientation on MSME Sustainability: The Mediating Effect of E-Commerce

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